The Real Estate Encyclopedia
Jack Guttentag
Category - Professionals in Real Estate - Real Estate Individuals General
The Mortgage Professor - Jack Guttentag

He is Jack M. Guttentag, now Professor of Finance Emeritus, formerly Jacob Safra Professor of International Banking, at the Wharton School of the University of Pennsylvania. Earlier he was Chief of the Domestic Research Division of the Federal Reserve Bank of New York, on the senior staff of the National Bureau of Economic Research, and managing editor of both the Journal of Finance (1974-77) and the Housing Finance Review (1983-89).

Professor Guttentag has been a student of the home loan market for many years, and his bibliography of scholarly articles, books and monographs is large and diverse. He has also been an active practitioner, serving as a consultant to many government agencies and private financial institutions, including the Department of Housing and Urban Development, USAID, Freddie Mac, Citicorp, Dominion Bancshares, the World Bank, J.P. Morgan Securities, the New Zealand Bankers Association, and many others. In addition, he has been a director of the Teachers Insurance and Annuity Association, Federal Home Loan Bank of Pittsburgh, Guild Mortgage Investments, and First Federal Savings and Loan Association of Rochester.

Throughout his career, Professor Guttentag has been concerned with the difficulties faced by consumers in the home loan market. In 1985 he joined with a colleague at Wharton to found GHR Systems, Inc. which developed a nationwide electronic network that lenders use to deliver complex mortgage information quickly to loan-officer employees, to mortgage brokers, and to consumers using the internet. The company also provides easy-to-use tools that enable loan officers to act as consultants to borrowers during the origination process, while speeding up the process. In August, 2005, GHR was purchased by Metavante Corporation and is now a part of Metavante.

In 1997 Professor Guttentag began to phase out his teaching at Wharton  to focus his efforts more fully toward helping consumers navigate the home loan market effectively.  He began a weekly column on mortgages that is nationally syndicated, and began the development of this web site. The major purpose of both is to help consumers make better decisions.

In 2000, Professor Guttentag in collaboration with several mortgage brokers developed Upfront Mortgage Brokers (UMBs).  Brokers who agree to do business in accordance with UMB principles, and who display these principles prominently on their web sites, were listed on this site for easy access by consumers.  See What is an Upfront Mortgage Broker In 2003, the certification process was extended to internet-based mortgage lenders.  See Upfront Mortgage Lenders. In 2006, it was further extended to one internet-based lender who discloses wholesale prices and markups. See A New Approach to Selecting a Loan Provider.

In 2006, Professor Guttentag transferred all his intellectual property connected to UMBs, including trademarks, to the Upfront Mortgage Brokers Association (UMBA), a non-profit corporation. UMBA has taken over  monitoring and other functions. UMBs are now listed on UMBA's web site, UMBA is supported by dues paid by UMBs. The professor is chairman of the board of UMBA, an unpaid position.

Professor Guttentag's The Pocket Mortgage Guide was published in 2003, The Mortgage Encyclopedia in 2004, both by McGraw Hill

External Links

Upfront Mortgage Brokers

Professionals in Real Estate - Authors, Speakers & Educators
Professionals in Real Estate - Real Estate Individuals General
Home   |   About Us   |   Contact Us   |   Patrons   |   FAQ's   |   Site Map
© 2008 - All Rights Reserved.
Thank you for visiting Real Estate Wiki - the leading dictionary, directory, encyclopedia and glossary for the real estate and mortgage industries .